
TRACON Pharmaceuticals (TCON) Stock Forecast & Price Target
TRACON Pharmaceuticals (TCON) Analyst Ratings
Bulls say
TRACON Pharmaceuticals Inc. has updated its FY24 EPS estimate positively, moving from ($0.33) to ($0.20), indicating improved financial expectations. The licensing of its cost-efficient, CRO-independent product development platform for a $3.0 million upfront payment reflects the strategic value of TRACON's operational model, which is designed to enhance clinical efficiency and reduce costs for partners. Additionally, the anticipated peak sales of Envafolimab, projected at $200 million to $300 million and potentially increasing with further indications, underscores a favorable revenue outlook as the drug is expected to launch in 2026, highlighting TRACON's growth potential in the biopharmaceutical market.
Bears say
TRACON Pharmaceuticals Inc. is facing significant challenges as indicated by the current Objective Response Rate (ORR) of 11%, which has further decreased to 5.5% when assessed by Blinded Independent Central Review (BICR). Additionally, the company's revised probability of success (PoS) for its drug candidate Envafolimab has been cut from 35% to 20%, illustrating deteriorating confidence in its development prospects. Furthermore, there are concerns regarding dilution from an increased share count estimate, which could adversely impact shareholder value moving forward.
This aggregate rating is based on analysts' research of TRACON Pharmaceuticals and is not a guaranteed prediction by Public.com or investment advice.
TRACON Pharmaceuticals (TCON) Analyst Forecast & Price Prediction
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